Oklo (NYSE:OKLO) Stock Price Up 8.7% – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLOGet Free Report) traded up 8.7% during trading on Tuesday . The stock traded as high as $50.00 and last traded at $49.5450. 9,314,753 shares were traded during mid-day trading, a decline of 11% from the average session volume of 10,443,442 shares. The stock had previously closed at $45.58.

Key Headlines Impacting Oklo

Here are the key news stories impacting Oklo this week:

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Oklo in a research report on Wednesday, March 18th. Wedbush reiterated an “outperform” rating on shares of Oklo in a research note on Friday, January 9th. Needham & Company LLC dropped their target price on Oklo from $135.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Finally, Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Oklo has an average rating of “Moderate Buy” and a consensus target price of $84.30.

Check Out Our Latest Stock Analysis on Oklo

Oklo Trading Up 8.7%

The firm has a 50 day moving average of $67.14 and a two-hundred day moving average of $94.03. The stock has a market capitalization of $8.60 billion, a PE ratio of -68.81 and a beta of 0.81.

Oklo (NYSE:OKLOGet Free Report) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same quarter last year, the firm earned ($0.74) EPS. Equities research analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

In other Oklo news, CFO Richard Craig Bealmear sold 72,090 shares of Oklo stock in a transaction on Friday, March 13th. The shares were sold at an average price of $60.00, for a total value of $4,325,400.00. Following the completion of the transaction, the chief financial officer owned 386,008 shares of the company’s stock, valued at $23,160,480. The trade was a 15.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 231,657 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $99.25, for a total value of $22,991,957.25. Following the transaction, the chief executive officer owned 827,019 shares of the company’s stock, valued at approximately $82,081,635.75. The trade was a 21.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,222,424 shares of company stock valued at $100,739,512. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

A number of institutional investors have recently bought and sold shares of the business. NBC Securities Inc. increased its position in Oklo by 75.0% in the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Oklo by 356.3% during the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after buying an additional 285 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of Oklo during the 3rd quarter valued at about $27,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Oklo in the 2nd quarter valued at approximately $28,000. Finally, Gables Capital Management Inc. bought a new stake in shares of Oklo in the 3rd quarter valued at approximately $28,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Company Profile

(Get Free Report)

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.

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